LIGO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LIGO
Largest movements
- Cash +€65,217
up €65,217 (+8695.6%), from €750 to €65,967
mainly Net result for the year (+€65,199) and Receivables within one year (+€43,862)
- Receivables within one year -€43,862
down €43,862 (-31.0%), from €141,393 to €97,531
of which Trade receivables: -€55,533
- Tangible fixed assets -€12,480
down €12,480 (-31.4%), from €39,730 to €27,250
of which Furniture and vehicles: -€9,330
- Other debts +€22,000
up €22,000 (+51.2%), from €43,000 to €65,000
- Trade debts -€16,695
down €16,695 (-64.8%), from €25,758 to €9,063
- Tax, wage and social debts +€9,309
up €9,309 (+153.0%), from €6,084 to €15,393
- Debts after one year -€7,092
down €7,092 (-36.1%), from €19,659 to €12,567
- Turnover +€99,226
up €99,226 (+58.4%), from €169,914 to €269,140
- Purchases and services +€84,200
up €84,200 (+77.8%), from €108,213 to €192,413
- Gross operating margin +€15,026
up €15,026 (+24.4%), from €61,701 to €76,727
- Depreciation -€3,909
down €3,909 (-23.9%), from €16,389 to €12,480
- Financial income +€3,244
up €3,244 (+429.7%), from €755 to €3,999
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €186,522 | €194,590 | +€8,068 | +4.3% |
| Fixed assets | 21/28 | €39,863 | €27,383 | -€12,480 | -31.3% |
| Tangible fixed assets | 22/27 | €39,730 | €27,250 | -€12,480 | -31.4% |
| Plant, machinery and equipment | 23 | €7,137 | €3,987 | -€3,150 | -44.1% |
| Furniture and vehicles | 24 | €32,593 | €23,263 | -€9,330 | -28.6% |
| Financial fixed assets | 28 | €133 | €133 | = | 0.0% |
| Current assets | 29/58 | €146,659 | €167,207 | +€20,548 | +14.0% |
| Stocks and contracts in progress | 3 | €520 | €505 | -€15 | -2.9% |
| Stocks | 30/36 | €520 | €505 | -€15 | -2.9% |
| Amounts receivable within one year | 40/41 | €141,393 | €97,531 | -€43,862 | -31.0% |
| Trade receivables | 40 | €71,462 | €15,929 | -€55,533 | -77.7% |
| Other amounts receivable | 41 | €69,931 | €81,602 | +€11,671 | +16.7% |
| Cash at bank and in hand | 54/58 | €750 | €65,967 | +€65,217 | +8695.6% |
| Deferred charges and accrued income | 490/1 | €3,996 | €3,204 | -€792 | -19.8% |
| Total equity and liabilities | 10/49 | €186,522 | €194,590 | +€8,068 | +4.3% |
| Equity | 10/15 | €85,276 | €85,475 | +€199 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €64,816 | €65,015 | +€199 | +0.3% |
| Amounts payable | 17/49 | €101,246 | €109,115 | +€7,869 | +7.8% |
| Amounts payable after more than one year | 17 | €19,659 | €12,567 | -€7,092 | -36.1% |
| Financial debts | 170/4 | €19,659 | €12,567 | -€7,092 | -36.1% |
| Amounts payable within one year | 42/48 | €81,587 | €96,548 | +€14,961 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €6,745 | €7,092 | +€347 | +5.1% |
| Trade debts | 44 | €25,758 | €9,063 | -€16,695 | -64.8% |
| Suppliers | 440/4 | €25,758 | €9,063 | -€16,695 | -64.8% |
| Taxes, remuneration and social security | 45 | €6,084 | €15,393 | +€9,309 | +153.0% |
| Taxes | 450/3 | €6,084 | €15,393 | +€9,309 | +153.0% |
| Other amounts payable | 47/48 | €43,000 | €65,000 | +€22,000 | +51.2% |
| Turnover | 70 | €169,914 | €269,140 | +€99,226 | +58.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €108,213 | €192,413 | +€84,200 | +77.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,389 | €12,480 | -€3,909 | -23.9% |
| Other operating charges | 640/8 | €1,100 | €1,606 | +€506 | +46.0% |
| Gross operating margin | 9900 | €61,701 | €76,727 | +€15,026 | +24.4% |
| Operating profit (loss) | 9901 | €44,212 | €62,641 | +€18,429 | +41.7% |
| Financial income | 75/76B | €755 | €3,999 | +€3,244 | +429.7% |
| Recurring financial income | 75 | €755 | €3,999 | +€3,244 | +429.7% |
| Financial charges | 65/66B | €1,754 | €1,353 | -€401 | -22.9% |
| Recurring financial charges | 65 | €1,754 | €1,353 | -€401 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €43,213 | €65,287 | +€22,074 | +51.1% |
| Income taxes | 67/77 | €79 | €88 | +€9 | +11.4% |
| Profit (loss) for the period | 9904 | €43,134 | €65,199 | +€22,065 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,134 | €65,199 | +€22,065 | +51.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.